In this Adobe Photoshop tutorial you can see how to make a professioal looking web graphic element, with smooth corners and smooth looking surface.

1.
We start by making the shape with the selection tool, so choose the elliptical selection tool, make sure the selection mode called add to selection is checked.
Drag a circle with the selection tool on your stage, then choose the polygonal lasso tool and click the shape as shown in the image below.

2.

2.
Now go to select -> modify -> smooth and smooth it about 20, then your selection should look something like this.

3.
Make a gradient as the first image below, drag from top to bottom on the selection, so the image looks like the second image below.

4.
Double click the layer in the layers panel to get to the layers style panel and give it settings as in the image below.
Go to filters -> blur -> gaussian blur and set it to about 1.

5.
Make a new, empty layer below the shape layer from before. hold down ctrl and click the shape layer to load the selection, then go to select -> modify -> expand and expand it about 8px.

6.
In the empty layer, drag an gradient from gray to white onto the selection, so your image should look something like this.

7.
Make a new layer ontop of the other layers, and make or find a custom shape of your own choice and drag it ontop of the shape as I did. Make it black, and right click it in the layers panel and choose rasterize layer.

8.
Hold down ctrl and click the new shape layer to load the selection, then with the rectangular selection tool and selection mode intersect with selection drag over the shape about half down to get the upper half of the shape selected.
With a gradient from white to see through drag down in the selection to make a reflection.

9.
Now we are going to make the small X at the right side of the shape.
From the custom shapes choose and drag the X on to your stage, and in the layers panel right click and choose rasterize layer. (make sure to use white color to the X).

10.
Drag it on top of your shape. Double click the X layer in the layers panel to get to the layers style panel and give it settings as shown below.

And you are done for this time.